March 21, 2020 8:30am
The Fed announce it will buy Treasuries and Mortgage Backed Securities today.
Mortgage Backed Securities are rallying with the price up 92 basis points this morning to $103.68.
The stock market futures reversed losses and were up as much as 497 points.
If the rally holds, it will result in lower mortgage rates today. Mortgage rate pricing come out between 10am and 11am.
Source: John Sauro